CIS - EVERYTHING You Need to Know About the Construction Industry Scheme (CIS Series 9)

CIS - EVERYTHING You Need to Know About the Construction Industry Scheme
Welcome to our comprehensive guide to the Construction Industry Scheme (CIS) in the UK! In this informative video, we delve into all the essential aspects of CIS to help you navigate this crucial scheme with confidence.

Discover what CIS is, who it applies to, and how it affects businesses and individuals in the construction industry.

Michael explains the rules and regulations of the CIS, including how to register and how to file returns.

Our expert analysis breaks down the complexities of the scheme, making it easy for you to understand and comply with. Don't miss this essential guide for anyone working in the construction industry!

Watch the video to empower yourself with the knowledge you need to navigate CIS successfully. Don't forget to like, comment, and share the video with others in the construction industry who could benefit from this information.

Whether you're new to CIS or seeking a refresher, this video is a must-watch for all construction industry professionals in the UK. Equip yourself with the knowledge you need to succeed in CIS and ensure smooth operations within your construction business.

MDH Accountants is an award-winning firm based in Accountants Surrey and Accountants London. Our Director, Michael Hemme, is known as the Wealth Whisperer!

Time Stamps:
00:00 - Intro
00:35 - Who Needs To Register?
01:04 - What Is Included under CIS?
01:25 - Why was CIS implemented?
01:55 - Know Your Customers
02:35 - Deductions
03:00 - CIS Rates
03:17 - Verify Your Subcontractors
03:36 - Benefits Of CIS
04:25 - Offsetting Your Deductions
04:53 - Be prepared and stay on track
05:36 - Contact Us
05:50 - 74 Ways To Pay Less Tax

Watch the whole CIS Playlist here:

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Content ID 9MTS2IPKUCBN8VWL

[MDHAccountants.]

Thank you for watching! If you found the video informative or have any further questions about CIS, feel free to drop a comment below. I am here to support you and provide the answers you need to navigate CIS with confidence!

[tmanagementltd]

This is great content! Very impressive and very helpful! I will be in touch

[robinsoudil]

Dear Michael, thank you for your video. But I did not find an answer to my situation and I think it is a tricky one. I am a sole trader based in the Czech Republic where I live. I have been contracted for shop furniture installation in the UK where I hired a Ltd. company, Do I need to register with CIS? My tax residence is in Czechia where I pay all my taxes. My mark up is about 25% so with the CIS tax I would be left with just 5%. I am asking because my client wants to know if I am registered with CIS and if I have a UTR number.

[auxtonplays]

The most informative content on this subject, however, the most confusing about all of this, if you are a ltd company and are being deducted via CIS contractor 20%, a lot of the time the companies profit is 0% as ALL money in is then paid to further subcontractors in your gang. but with only 80% of gross income how can you afford to pay the gangs 100% rates if you do not meet gross status requirements. Have struggled with this indefinitely as i know many do, would really appreciate a video or response :)

[lisasutherland]

i was general labourer, local council via agency . scotland. i got told i couldnt be self employed . had go on PAYE. means my van hire, fuel, ad blue. relating to that job i cant claim on tax assesment!

[Tacticuz]

Hi michael, im a subcontractor registered with the CIS, if my yearly earnings are over the 40% higher tax bracket of £50, 271, do i have to pay this at the end of the year or is it always 20% if the money is all from CIS??

[alwayslearning]

Does anyone have the link to register for CIS? I cant find the correct link online.
I'm a subcontractor.

[alwayslearning]

As a subcontractor is the National Insurance included in the 20%?

[mikebyrnecartwrightbyrneca]

Is CIS only taken from labour ? If i have the below breakdown what will be considered as CIS .?

Labour £
Materials
Fuel £
Machinery £
Testing £